Ethyl 2-phenyl-1H-indole-3-carboxylate is primarily utilized in organic synthesis as a key intermediate for the development of various pharmacologically active compounds. Its indole core structure is significant in medicinal chemistry, where it serves as a building block for designing molecules with potential therapeutic applications, particularly in the treatment of neurological disorders and cancer. Additionally, it is employed in the synthesis of dyes and pigments due to its aromatic properties, contributing to the production of vibrant and stable colorants. In research, this compound is often used to study the reactivity and functionalization of indole derivatives, aiding in the discovery of novel chemical reactions and pathways.